Namaste Tribe! This has been one of the most requested feature by many of you! There are many advantages of crypto to crypto (C2C) trading and we’re excited to announce the launch of C2C trading on WazirX!
Announcing the first 2 markets for C2C trading
1. TRX/BTC
2. XRP/BTC
These are the two trading markets we’re launching today and after this we’ll continue to launch many new coins in the BTC market. C2C is going to provide you with more granular control on the price you wish to buy a coin for and it’s also going to bring more liquidity into WazirX.
The best traders would follow this approach:
1. Deposit INR to WazirX (INR deposits reflect instantly on WazirX)
2. Buy BTC with INR
3. Buy all other crypto using BTC
What is Satoshi?
1 Satoshi or 1 sats as many call it is nothing but 0.00000001 BTC. This is the smallest division of BTC. The way we have paise which is the smallest unit of Rupee, we have Satoshi as the smallest unit of Bitcoin.
When performing C2C trades, you will need to start thinking in Satoshis. As of this writing, based on the current market price of BTC:
1 Satoshi = ₹ 0.0052
100 Satoshi = ₹ 0.52
However, we understand it won’t be easy for you to start thinking in Satoshis right away. Don’t worry, we’ve taken care of that problem for you. When you start trading in C2C market on WazirX, we’ll display the INR equivalent of Satoshis everywhere. This will make it easy for you to understand how much INR value you’re trading.
Also, since Satoshi is even smaller than 1 paise in value, you get to play with even smaller fluctuations. This makes trading even more granular and beneficial to every day trader.
Launching C2C for Android and Web at 3PM today
We’ll be rolling out the C2C update to Android and Web apps at 3PM today. Do update your Android app to the latest version (2.1.0). Users of iOS will have to wait longer (we don’t have an ETA yet) as we’re still working on the next iOS update. We’ll inform when it’s ready.
C2C trading is going to change the way India trades in cryptos. This is the future of crypto trading and it’s time every Indian started trading in the C2C markets.
As always, we’re always looking forward for your feedback and we’ll continue to build and improve WazirX with your inputs. Let’s make India a top crypto nation, tribe!
Jai Hind!
*Above content is migrated from medium to wazirx blogDisclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
